...the perma-bull of Wall St Fundstrat reckons stay constructive in June, except that they believe new car prices could fall much further.
...in other words Bull for overall market, Bear for Auto/EV/Lithium stocks
AVOID EVERYTHING AUTO RELATED WAS MY CAUTION NOT LONG AGO.
It is panning out now, don't expect Wall St to suddenly love the sector after falling out of love for some time now.
FUNDSTRAT:
“.. If new car prices fall back to the 50-year trend, this is a fall of -16% .. a huge decline and would bring prices back to pre-pandemic levels. “
.. This is already happening with used car prices .. we expect used car prices to fall as much as an additional 24% ..
“.. the second largest #CPI component (autos) is set to see substantial deflation ..
“.. Perhaps it is no surprise that fed futures are now starting to price in the probability of a July cut.” “.. Bottom line: Stay constructive in June.”
https://x.com/carlquintanilla/status/1803959453235954050
...the perma-bull of Wall St Fundstrat reckons stay constructive...
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